G7 countries support debt forgiveness for Sri Lanka
Sri Lanka is in the midst of its worst economic crisis since independence.
The move comes after Sri Lanka officially defaulted on its debt due to its inability to pay bond interest when the grace period ended on May 18.
The draft joint statement of the G7 meeting taking place in Germany states: “The G7 stands ready to support the efforts of the Paris Club, in line with the group’s principles, to address the debt settlement needs of Sri Lanka.”.
In the draft, the G7 also called on other creditor countries that are not part of the Paris Club to support debt relief for Sri Lanka.
Sri Lanka is in the midst of the most severe economic crisis since independence in 1948. The local currency has depreciated, and inflation is forecast to reach 40% in the next few months.
Sri Lanka is negotiating with the International Monetary Fund (IMF) for an emergency loan.
* Invite readers to watch the programs broadcast by Vietnam Television on TV Online and VTVGo!
at Blogtuan.info – Source: vtv.vn – Read the original article here
